Speeding Digital Banking Transformation - PowerPoint PPT Presentation

Telcos must create ecosystem platforms for better customer experienceWhy do CEOs care so much about digital?Delivering digital transformation in telecom demands a new approach to API services.

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Speeding Digital Banking Transformation

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Telcos Must Create Ecosystem Platforms • The end-to-end relationship among people and devices, the network, and the services the network delivers is evolving rapidly due to the Digital revolution. Some telcos have seen this movie before – strategies they tried and failed to innovate in earlier eras, such as embedded music, are gaining new relevance because of smartphones along with changes in the music industry in licensing practices. OTT apps/services such as WhatsApp, Facebook, NetFlix, and Spotify are showing that customers are increasingly focused on the value they receive over-the-top, rather than from the basic voice, messaging, and data services they get from communications service providers.

Telcos Must Implement A New Architecture To Pursue This Vision • APIs provide the glue between layers and players, while accelerating service delivery. Telcos were often among the most aggressive and successful in implementing Service Oriented Architecture (SOA), but those implementations tended to target mainly internal integration, so were better suited to the closed “ego-centric” model than the more open ecosystem model. The evolution of SOA to embrace and deliver effective portfolios of APIs with more consistent information comes at just the right time to enable telcos to expose platforms – collections of APIs backed by network services and consistent data – while consuming APIs from OTT and other partners. The more flexible API architecture also speeds telcos’ ability to design and configure new subscriber services, especially when those services compose APIs from inside and outside the firm.

Why Do CEOs Care So Much About Digital? • CEOs like Richard Fairbank of CapitalOne and John Legere of T-Mobile are on record in the business press as arguing that Digital is crucial to the future of their business, to the point that they are both actively leading the executive push to excel in the tactics of Digital competition, such as the strength of their API and service portfolios, as well as their approach to user experience, OmniChannel, and faster development of Digital products and services. So why do CEOs care so much about these Digital tactics?